Charlie Adam has submitted a formal transfer request to Blackpool after being blocked over a move to Liverpool but his club have rejected his demand to move on.

Adam's decision, first suggested in the Guardian on Friday, comes after his current club rejected a £4m bid from Liverpool for his services. Aston Villa had an offer of the same amount thrown out by Blackpool.

Adam is eager to try his luck on a bigger stage and was particularly riled by Blackpool's unwillingness to negotiate with Liverpool. The former Rangers midfielder's transfer request may force Ian Holloway to lower his valuation of the player – thought to be £8m – to nearer £6m.

Rangers, who are desperate for money to supplement their squad, are keeping a close eye on Adam's situation; the Ibrox club are due 10% of his next sale.

Holloway confirmed Adam had put in a transfer request today but said there was no issue to discuss because Liverpool's offer of £4m does not meet his club's valuation. He said Liverpool should "put up or shut up" over their pursuit of Adam.

"If I was the Liverpool manager I would want to buy him because they have never replaced Xabi Alonso," said Holloway. "But you have to come up with the right amount of money. I don't want to stand in his way, but they have to put up or shut up."

Holloway revealed the chairman, Karl Oyston, had taken a call from the Liverpool director of football strategy, Damian Comolli, last night which merely left the picture even more confused. "He ummed and aahed and apparently did not make much sense," said Holloway.

The Blackpool manager also confirmed he had given no thought to leaving Adam out of the high-profile match with Manchester United tomorrow night.

"Not a chance. If I tried to stop that boy playing against Manchester United he would probably kill me. Charlie loves this club and just because he puts a transfer request in doesn't change that."

Kenny Dalglish, the Liverpool manager, was cagey when asked about Adam today. "If we have some business to discuss we will discuss it," he said. "We will try to adopt the way of Liverpool Football Club and certainly one of our ways is to be respectful of other clubs and certain players at other clubs. The most important people we have are the people at this club."